Krishi Kalyan Cess Interview Questions & Answers

Below we have listed all the Krishi Kalyan Cess Interview Questions and answers. Feel free to comment on any Krishi Kalyan Cess Interview Questions or answer by the comment feature available on the page.

In budget 2016 finance minister has introduced new tax namely Krishi Kalyan Cess. This cess is introduced in order to extend welfare to the farmers. The effective rate of Krishi Kalyan Cess is 0.5%. This tax will be imposed on all taxable services. Krishi Kalyan Cess would come in force with effect from June, 1, 2016. Once this cess is applied we need to pay service tax @ 15%.
It is a Cess which shall be levied and collected in accordance with the provision of Chapter VI of the Finance Act, 2015 called Krishi kalyan Cess, as Service Tax on all Taxable Services at the rate of 0.5% of the value of Taxable Services.